Priced To Sell

November 20, 2008

In today’s volatile market, buyers expect to get a great deal when then purchase a home. It’s almost as if they want to be rewarded for being brave and credit worthy. So how do you price your home so that it’s competitive enough to get buyers looking at it, but high enough to allow the negotiating room buyers need so they can assure themselves they purchased the home at a discount?

A while back I showed a home that had been reduced for a quick sale. It was a great deal. The buyer I was working with loved the house and made an offer (90% of list price) on the home. The offer was rejected. When I asked if the buyer would have been happy with the purchase price if the home had originally been listed higher and he’d offered the current list price. The buyer admitted that buying the home at a discount was more important than finding the right house at the right price. He absolutely could not pay full list price for the home, even though the list price was below comparable homes.

It’s difficult for sellers to understand that some of the appreciation they’ve experienced over the last few years has been wiped out. But if a seller has owned for more than about 8 years, he still should have built up enough equity to be able to price well, leave a little room for negotiation and walk away from the table with some profit. Compare profits to what your stock portfolio or retirement is worth, and sellers in most parts of the country are still OK. Yes, there are areas in the country where sellers are upside down in their mortgages, but how many of these sellers have owned for more than 8 years?

So if you’re a seller with enough equity to negotiate, do so with grace and gratitude. Hopefully, you’ll get just a good a deal when you go to buy your next home!

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Local Information for Fair Oaks, CA

Latitude: 38.651254 -- Longitude: -121.259279

Other Area Cities: Granite Bay Carmichael Citrus Heights Rio Linda Roseville Rocklin Sacramento Cameron Park Fair Oaks Folsom Orangevale

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Fair Oaks is a census-designated place (CDP) in Sacramento County, California, United States. The population was 28,008 at the 2000 census. Fair Oaks has it's own zip code, 95628. It is considered an "unincorperated area" of Sacramento County. Fair Oaks grew rapidly with the completion of the Fair Oaks Bridge and the railroad line. The Fair Oaks Fruit Company incorporated in 1902 and built a warehouse in Fair Oaks to export not only citrus, but also almonds and olives. Also, in 1902, Dr. R. N. Bramhall became the first medical doctor to reside and set up office in Fair Oaks. The agricultural productivity attracted the development of other community services. Fair Oaks had become a typical small town by 1906 with a post office, hotel, blacksmith shop, lumber yard, pharmacy, bank, cemetery, newspaper, and a number of small dry-goods and grocery stores located along Main Street. -- Source: Wikipedia.com

California 2000 Census Population Profile Map

	Fair Oaks	California	United States
Population	28,008	33,871,648	281,421,906
Median age	41.2	33.3	35.3
Median age for Male	40.1	32.2	34
Median age for Female	42.3	34.4	36.5
Households	11,203	11,502,870	105,480,101
Household population	27,688	33,051,894	273,643,273
Average household size	2.47	2.87	2.59
Families	7,847	7,920,049	71,787,347
Average family size	2.91	3.43	3.14
Housing units	11,461	12,214,549	115,904,641
Occupied units	11,203	11,502,870	105,480,101
Vacant units	258	711,679	10,424,540

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